Traders Purchase High Volume of Call Options on SmileDirectClub (NASDAQ:SDC)

SmileDirectClub (NASDAQ:SDC) was the recipient of some unusual options trading activity on Thursday. Investors purchased 94,788 call options on the company. This is an increase of 370% compared to the average volume of 20,167 call options.

A number of equities analysts have recently weighed in on SDC shares. William Blair reissued a “buy” rating on shares of SmileDirectClub in a research report on Wednesday, February 26th. Wolfe Research assumed coverage on shares of SmileDirectClub in a report on Thursday, January 9th. They issued an “underperform” rating and a $7.00 price objective for the company. Bank of America cut their price objective on shares of SmileDirectClub from to in a report on Wednesday, February 26th. Credit Suisse Group cut their price objective on shares of SmileDirectClub from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Craig Hallum initiated coverage on shares of SmileDirectClub in a report on Monday, January 6th. They issued a “buy” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.92.

In other news, Director Richard F. Wallman purchased 8,000 shares of SmileDirectClub stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of $5.44 per share, with a total value of $43,520.00.

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of SmileDirectClub during the fourth quarter worth about $17,480,000. Ironwood Investment Management LLC acquired a new position in SmileDirectClub in the fourth quarter valued at approximately $242,000. LMR Partners LLP acquired a new position in SmileDirectClub in the fourth quarter valued at approximately $559,000. Geode Capital Management LLC acquired a new position in SmileDirectClub in the fourth quarter valued at approximately $4,042,000. Finally, Alliancebernstein L.P. lifted its holdings in SmileDirectClub by 63.6% in the fourth quarter. Alliancebernstein L.P. now owns 351,758 shares of the company’s stock valued at $3,074,000 after acquiring an additional 136,690 shares during the period. Institutional investors and hedge funds own 22.20% of the company’s stock.

Shares of SmileDirectClub stock traded up $1.55 on Thursday, reaching $5.83. 15,323,050 shares of the stock were exchanged, compared to its average volume of 7,068,619. The firm’s 50 day simple moving average is $9.34. SmileDirectClub has a one year low of $3.70 and a one year high of $21.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.77 and a current ratio of 2.85. The stock has a market cap of $1.67 billion and a price-to-earnings ratio of -5.11.

SmileDirectClub (NASDAQ:SDC) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.16). The company had revenue of $196.71 million for the quarter, compared to analyst estimates of $198.50 million. As a group, research analysts predict that SmileDirectClub will post -0.6 earnings per share for the current fiscal year.

SmileDirectClub Company Profile

SmileDirectClub, Inc operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. The company manages the end-to-end process, which include marketing, aligner manufacturing, fulfillment, treatment by a doctor, and monitoring through completion of their treatment proprietary with a network of approximately 240 state licensed orthodontists and general dentists through its teledentistry platform, SmileCheck.

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